Mumbai: The Central Bureau of Investigation (CBI) on Thursday, September 18, 2025, filed a chargesheet against Anil Ambani, chairman of the Anil Dhirubhai Ambani (ADA) Group, and former Yes Bank CEO Rana Kapoor, along with his wife Bindu Kapoor and daughters Radha and Roshni Kapoor. The move comes after alleged fraudulent transactions between Ambani’s group companies — Reliance Commercial Finance Limited (RCFL) and Reliance Home Finance Limited (RHFL) — and firms linked to the Kapoor family caused a loss of ₹2,796 crore to Yes Bank.

The chargesheet, filed before a special court in Mumbai, also names several other companies, including RAB Enterprises Private Limited, Imagine Estate Private Limited, Bliss House Private Limited, Imagine Habitat Private Limited, Imagine Residence Private Limited, Morgan Credits Private Limited, RCFL, and RHFL (now Authum Investment and Infrastructure Limited).

What led to the charges against Ambani and Kapoor?

The CBI investigation revealed that in 2017, Yes Bank invested around ₹2,045 crore in non-convertible debentures and commercial debts of RCFL and ₹2,965 crore in RHFL’s instruments. These investments were made on the approval of Rana Kapoor despite CARE Ratings placing the ADA Group financial companies “under watch” due to their deteriorating financial standing and poor market performance.

According to the CBI, the funds were later siphoned through multiple layers, showing a systematic diversion of public money. In a “quid pro quo,” Kapoor’s family-run firms received substantial loans from RCFL and RHFL at concessional rates.

How did the Kapoor family benefit?

The investigation found that companies owned by Bindu Kapoor, Radha Kapoor, and Roshni Kapoor received credit facilities from ADA Group companies while the bank suffered massive losses. Additionally, Reliance Nippon Mutual Funds, another subsidiary of Reliance Capital Limited, invested ₹1,160 crore in non-convertible debentures of Morgan Credits Private Limited, a firm owned by the Kapoor family, on instructions from Anil Ambani.

The CBI stated that this arrangement resulted in a wrongful loss of ₹2,797 crore to Yes Bank and corresponding unlawful gain to RCFL, RHFL, ADA Group subsidiaries, and the Kapoor family’s companies.

Who else is implicated in the case?

Apart from Ambani and the Kapoor family, several ADA Group companies and firms owned by the Kapoo family are charged under sections of the Prevention of Corruption Act and the Indian Penal Code.

No immediate comment was available from the ADA Group regarding the chargesheet.